ATB Capital Issues Pessimistic Forecast for Precision Drilling (TSE:PD) Stock Price

Precision Drilling (TSE:PD - Free Report) NYSE: PDS had its target price trimmed by ATB Capital from C$87.00 to C$84.00 in a report released on Wednesday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also issued reports on the company. CIBC cut their price target on Precision Drilling from C$115.00 to C$95.00 in a research note on Thursday, April 10th. Royal Bank Of Canada cut their price target on Precision Drilling from C$110.00 to C$89.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Raymond James Financial lowered Precision Drilling from a "strong-buy" rating to an "outperform" rating and cut their price target for the stock from C$141.00 to C$124.00 in a research note on Wednesday, April 9th. TD Securities cut their price target on Precision Drilling from C$89.00 to C$69.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Finally, BMO Capital Markets cut their price target on Precision Drilling from C$100.00 to C$90.00 in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$93.00.

Precision Drilling Stock Performance

Shares of TSE:PD traded down C$0.46 during midday trading on Wednesday, hitting C$68.14. The company had a trading volume of 12,482 shares, compared to its average volume of 128,411. The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36. The company has a market cap of C$969.64 million, a price-to-earnings ratio of 4.01, a PEG ratio of -3.24 and a beta of 2.76. Precision Drilling has a 12-month low of C$51.38 and a 12-month high of C$109.20. The company has a fifty day moving average of C$62.83 and a two-hundred day moving average of C$70.80.

Precision Drilling Company Profile

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.